Friday, October 31, 2008

Promises of Redistribution and Spread the Wealth

David Harsanyi's article If It Redistributes Like a Duck... looks at Obama's plans to change the fundamental structure of the American economy by focusing tax codes on redistribution of wealth.

Obama is the first major presidential candidate in memory to assert that taxation's principal purpose should be redistribution.

The proposition that government should take one group's lawfully earned profits and hand them to another group -- not a collection of destitute or impaired Americans, mind you, but a still-vibrant middle class -- is the foundational premise of Obama's fiscal policy.

It was Joe Biden who said (not long ago, when he still was permitted to speak in public), "We want to take money and put it back in the pocket of middle-class people." The only entity that "takes" money from the middle class -- or any class for that matter -- is the Internal Revenue Service. Other than that, there is nothing to give back.

And who knew we needed such a drastic renovation of an economic philosophy we've adhered to these past 25 years (yes, counting Bill Clinton's comparatively fiscally conservative record)? Despite a recent downturn and with all the serious tribulations we face, Americans have just lived through perhaps the most prosperous and peaceful era human beings ever have enjoyed.

From 1982 until now, every arrow on nearly every economic growth chart -- every health care chart, every chart that matters -- points in one general direction, and that's up.

Obama, who, it seems, is running not only for president but also for national baby sitter/accountant/daddy/icon, ignores this success and claims he can "invest" (will that euphemism ever go away?) and disperse your money more efficiently, smartly and fairly than you can. How could any American accept the absurdity of that position?